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> The Economics of Immediate Gratification
>
> BP Amoco and LSE Events Lecture
>
> Date: Tuesday 27 February 2001
> Time: 6.30pm
> Venue: Old Theatre
> Speaker: Professor Matthew Rabin
>
> Conventional economic theory assumes that people have zero
> self-control problems, and only pursue
> activities whose benefits outweigh their costs. This flies in
> the face of common sense, millennia of folk
> wisdom and decades of psychological research establishing
> that people are prone to give excess weight to
> their immediate gratification. Professor Rabin will talk
> about recent efforts to improve the realism of economic
> theory by developing models for self-control problems. While
> concentrating on simple mathematical
> illustrations and general principles, he will discuss the
> potential for applications to such realms as consumer
> purchases, savings, addiction and procrastination.
>
> Matthew Rabin is Professor of Economics at the University of
> California, Berkeley. He is an economic theorist,
> and a leading researcher in the new field of 'behavioural
> economics', which seeks to integrate greater
> psychological realism into mainstream economics. He is
> currently working on a book intended as a guide for
> economists to psychology and behavioural economics.
>
> This event is free and open to all, no ticket is required.
>
> For enquiries, please call the LSE Events phoneline on 0207
> 955 6043
>
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